Tech industry
fromTheregister
1 week agoCisco hikes prices to cover memory cost rises
Cisco raised hardware prices to offset higher memory costs while customers continue purchasing and strategic investment plans remain unchanged.
"We have a line of sight to drive approximately $1 billion of gross run rate savings over three years across product development, customer service and support, and many of our operational processes," he said. The company's results announcement [PDF] states the aims of the new cost-cutting program are "to drive customer satisfaction, product innovation, and productivity through artificial intelligence adoption and enablement." Or in other words, replacing about ten percent of the company's people with AI, to save $1 billion.